[Congressional Record Volume 163, Number 196 (Friday, December 1, 2017)]
[Senate]
[Page S7724]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1821. Mr. GARDNER submitted an amendment intended to be proposed 
to amendment SA 1618 proposed by Mr. McConnell (for Mr. Hatch (for 
himself and Ms. Murkowski)) to the bill H.R. 1, to provide for 
reconciliation pursuant to titles II and V of the concurrent resolution 
on the budget for fiscal year 2018; which was ordered to lie on the 
table; as follows:

       At the appropriate place, insert the following:

     SEC. __. CONSOLIDATION OF EDUCATION SAVINGS RULES.

       (a) No New Contributions to Coverdell Education Savings 
     Account.--Section 530(b)(1)(A) is amended to read as follows:
       ``(A) Except in the case of rollover contributions, no 
     contribution will be accepted after December 31, 2017.''.
       (b) Limited Distribution Allowed for Elementary and 
     Secondary Tuition and Qualified Early Education Expenses.--
       (1) In general.--Section 529(c) is amended by adding at the 
     end the following new paragraph:
       ``(7) Treatment of elementary and secondary tuition and 
     qualified early education expenses.--Each reference in this 
     section to the term `qualified higher education expense' is 
     deemed to include--
       ``(A) a reference to expenses for tuition in connection 
     with enrollment at an elementary or secondary school; and
       ``(B) a reference to expenses for providing educational and 
     other care to a child under age 5, as determined under the 
     law of the State involved, provided pursuant to attendance at 
     a school or facility licensed in the State for such purpose 
     (referred to in this section as `qualified early education 
     expenses').''.
       (2) Limitation.--Section 529(e)(3)(A) is amended by adding 
     at the end the following: ``The amount of cash distributions 
     from all qualified tuition pro grams described in subsection 
     (b)(1)(A)(ii) with respect to a beneficiary during any 
     taxable year, shall, in the aggregate, include (as the case 
     may be) not more than $10,000 in expenses for tuition 
     incurred during the taxable year in connection with the 
     enrollment or attendance of the beneficiary as an elementary 
     or secondary school student at a public, private, or 
     religious school; or not more than $10,000 in qualified early 
     education expenses incurred during the taxable year.''.
       (c) Rollovers From Coverdell Education Savings Accounts to 
     Qualified Tuition Programs.--Section 530(d)(5) is amended by 
     inserting ``, or into (by purchase or contribution) a 
     qualified tuition program (as defined in section 529),'' 
     after ``into another Coverdell education savings account''.
       (d) Effective Dates.--
       (1) In general.--Except as provided in paragraph (2), the 
     amendments made by this section shall apply to contributions 
     made after December 31, 2017.
       (2) Rollovers to qualified tuition programs.--The 
     amendments made by subsection (b) shall apply to 
     distributions after December 31, 2017.
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